China continues to build its new strategic industry - Electric Cars and now we can see the first results. International Lithium is well positioned to participate in this macro trend in China with its strategic partner Ganfeng Lithium.
"According to the World Bank, air pollution costs China as much as $300-billion a year in health problems and productivity losses.In response, the Chinese central government just announced a slate of pro-electric car policies, including slashing charging station rates by 30%. Navigant Research predicts that global lithium ion battery sales will increase 400% by 2023.A Canadian company is strategically positioned to benefit from this macro-trend. Read more."
International Lithium Corp. and Ganfeng Lithium Finalize Joint Venture on Mariana Lithium Brine Project, Argentina.
China Rolls Out Welcome Mat for Electric Cars: Ganfeng Lithium Partners with International Lithium in Argentina and Ireland.
“Ganfeng has an army of lithium-focused geologists who looked at projects in every corner of the planet,” stated ILC president Kirill Klip in an exclusive interview, “but they chose ILC to do business with. This is a big de-risking factor for our current and future shareholders. The Chinese do their homework. They believe in the geology of our assets, our management and our development strategy.” Read more.
Chinese and China-based vehicle manufacturers produced 47,000 electric vehicles and plug-in hybrids during the first 10 months of 2014, almost five times more than they did within the same period last year.According to the Ministry of Industry and Information Technology (MIIT), the government agency that regulates China's auto industry, about 22,200 electric passenger vehicles were made, representing a sevenfold increase over last year.Moreover, 11,100 plug-in hybrid passenger vehicles were produced, which is 20 times more than the number recorded the year before.
Finally, four fuel-cell-powered passenger vehicles were built in the January-October period compared to none last year.With respect to commercial vehicles, MIIT records show that production of electric commercial vehicles surged by 133 percent to 5,723 units, while those of plug-in hybrid commercial vehicles jumped by 181 percent to 7,972 units.Despite the remarkable increases in production, many still doubt that the country's auto industry will be able to meet the production and distribution goals set by the authorities.The government has previously announced that it wants to have 5 million electric vehicles and plug-in hybrids on the road by 2020.More recently, the government has announced that current restrictions on foreign investment in companies making key components for electric cars and hybrids will be lifted.The proposed revision on the "Catalog of Industries for Guidance on Foreign Investment" to make this possible is now being circulated by the National Development and Reform Commission, the country's central economic planning agency, for comments and reaction from the public.Under the proposed revision, the manufacture of key components for these alternative energy vehicles will be placed in the category of industries where foreign investment is encouraged. YIBADA."